News Broadcasting
Not quite cricket? Hathway, MEL continue sparring
MUMBAI: For those who thought the spat between Hathway and Modi Entertainment Network Limited had ended; think again.
Although both parties claim to have reached an ‘understanding’ and Hathway put the MEN distributed DD Sports back on air on Thursday morning, Hathway retaliated today through the same medium that MEL has employed over the past few days – print.
In what is obviously an attempt to clear its turf, the MSO released an ad in the Times of India today, accusing MEL of anti customer attitude. “Only a fraction of the money collected from all the customers reaches Prasar Bharati /DD. The majority of the money goes to the pockets of MEL including the alleged recent price hike effected before the India/West Indies cricket series,” the ad says. Countering MEL’s allegation that Hathway ‘turned down’ DD Sports, the MSO questions the wisdom of such a move, since the series is being sponsored by Exide, a Hathway/WIN Cable associate company.
Taking on MEL’s allegation that Hathway refrains from showing DD Sports although it charges the viewers for it, Hathway has responded with a charge that MEL is forcing cable ops to carry TEN Sports, FTV and Hallmark, which it carries.
The dispute began on 11 October with the MSO’s refusal to accept DD Sports’ recent monthly subscription price hike from Rs 7.15 to Rs 8.95, when MEN switched off its feed in Mumbai and some other parts of Maharashtra.
For the last three days, MEL placed advertisements in The Times Of India defining its stand on the matter and accusing Hathway of denying its viewers the pleasure of watching Indian cricket even though it costs ‘less than a cup of tea’. It went on to urge viewers to ‘give their verdict’.
The icing to the cake , however, is Hathway’s declaration that “Hathway /Win cable is proud to carry India/ WI series ( Exide Cup) telecast on DD Sports” at the end of the ad.
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
